Gabelli Funds LLC Invests $18.59 Million in Penumbra, Inc. $PEN

Gabelli Funds LLC purchased a new stake in Penumbra, Inc. (NYSE:PEN) during the first quarter, Holdings Channel reports. The institutional investor purchased 56,623 shares of the company’s stock, valued at approximately $18,593,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PEN. SG Americas Securities LLC raised its holdings in Penumbra by 144.4% in the fourth quarter. SG Americas Securities LLC now owns 11,111 shares of the company’s stock worth $3,455,000 after purchasing an additional 6,564 shares during the period. Stephens Investment Management Group LLC acquired a new position in shares of Penumbra in the 4th quarter valued at $37,563,000. New York Life Investment Management LLC acquired a new position in shares of Penumbra in the 4th quarter valued at $999,000. Simplify Asset Management Inc. increased its position in shares of Penumbra by 89.7% in the 4th quarter. Simplify Asset Management Inc. now owns 15,827 shares of the company’s stock valued at $4,921,000 after buying an additional 7,485 shares in the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Penumbra in the 4th quarter valued at $2,091,000. Institutional investors own 88.88% of the company’s stock.

Penumbra Stock Up 0.2%

PEN stock opened at $318.60 on Friday. The company has a market cap of $12.53 billion, a price-to-earnings ratio of 73.41, a P/E/G ratio of 1.98 and a beta of 0.70. Penumbra, Inc. has a twelve month low of $221.26 and a twelve month high of $362.41. The business has a 50 day moving average price of $319.45 and a two-hundred day moving average price of $329.92. The company has a quick ratio of 3.95, a current ratio of 6.02 and a debt-to-equity ratio of 0.01.

Penumbra (NYSE:PEN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.24). The company had revenue of $374.76 million for the quarter, compared to the consensus estimate of $370.47 million. Penumbra had a return on equity of 10.87% and a net margin of 11.76%.The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. Analysts anticipate that Penumbra, Inc. will post 5.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PEN has been the subject of several recent analyst reports. Evercore restated an “outperform” rating and issued a $320.00 price target on shares of Penumbra in a report on Monday, July 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $374.00 price objective on shares of Penumbra in a report on Thursday, June 11th. Zacks Research lowered Penumbra from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Penumbra in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Penumbra to a “hold” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Penumbra has a consensus rating of “Hold” and an average price target of $360.33.

Penumbra Company Profile

Penumbra, Inc is a global healthcare company specializing in the development and manufacture of innovative medical devices that address neurovascular and peripheral vascular conditions. The company focuses on products designed to improve patient outcomes in acute ischemic stroke, aneurysm treatment and peripheral thrombectomy. Penumbra’s technologies are used by interventional neuroradiologists, neurosurgeons and interventional cardiologists in hospitals and clinics around the world.

At the core of Penumbra’s portfolio is its mechanical thrombectomy platform, which includes aspiration catheters and accessory devices engineered to remove blood clots in acute stroke cases.